Provide Specialist Financial Services to Derbyshire Council

The Council is seeking to utilise its considerable land assets, to generate a revenue income stream through the establishment of a Derbyshire County Council Development Company.

REFERENCE CTP 768

Provision of Specialist Financial Services – Derbyshire Development CompanyAwarding body Derbyshire County Council

EST. VALUE

£40,000

EST. START DATE:

04/04/2016

EST. END DATE:

16/05/2016

Description

By 2018, Derbyshire County Council (“Council”) will be getting a third less money from Central Government to run its services, compared to 2013 , with more cuts to follow up to 2020 and possibly beyond.
The Council is seeking to utilise its considerable land assets, to generate a revenue income stream through the establishment of a Derbyshire County Council Development Company, acting within the limitations of the general power of competence (Localism Act 2011). This is to mitigate the effects of funding cuts and to support the delivery of key services. The company would be operated and governed as an arm’s length vehicle and develop surplus council property and land assets, for housing for sale or rent, extra care housing, or for commercial and industrial development. The Council is seeking to structure the company, to allow it to have the flexibility to work in formal partnership, with other public bodies, the private sector and housing providers including Registered Social Landlords (RSLs).